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Leasing Vs. Buying?There are many differences between leasing and buying, but the primary difference is – with buying, you’re paying to own the vehicle. With Leasing, you’re paying to use the vehicle. Many customers feel they would rather finance a vehicle in the traditional way because they would "rather own it, as opposed to renting it." However, with a traditional loan, the bank or finance company who holds the lien on the vehicle actually owns it until it is paid off. The only difference then, in terms of ownership with leasing versus traditional financing, is that the name of the leasing company or lien holder would appear on the vehicle registration and permit. With a lease, you normally have no equity in the vehicle when the lease term is completed. With a bank loan, you build equity over the term of the loan. However, even though you build equity, the dollars spent to own the car would be much greater than its value. Even though it is an asset - it is a constantly depreciating asset. SUBSECTIONS: Types Of Leases |
Leasing Vs. Buying | Able Advantage |
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